Spirit of America Management Corp NY Boosts Stake in Simon Property Group, Inc. $SPG

Spirit of America Management Corp NY raised its position in Simon Property Group, Inc. (NYSE:SPG) by 3.5% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,600 shares of the real estate investment trust’s stock after buying an additional 600 shares during the period. Spirit of America Management Corp NY’s holdings in Simon Property Group were worth $2,829,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SPG. Brighton Jones LLC purchased a new stake in Simon Property Group in the 4th quarter valued at about $295,000. Wealth Enhancement Advisory Services LLC increased its stake in Simon Property Group by 9.3% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 25,854 shares of the real estate investment trust’s stock valued at $4,294,000 after buying an additional 2,194 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in Simon Property Group by 1.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 70,286 shares of the real estate investment trust’s stock valued at $11,673,000 after buying an additional 1,296 shares during the last quarter. Global X Japan Co. Ltd. increased its stake in Simon Property Group by 24.9% in the 1st quarter. Global X Japan Co. Ltd. now owns 818 shares of the real estate investment trust’s stock valued at $136,000 after buying an additional 163 shares during the last quarter. Finally, Blue Trust Inc. increased its stake in Simon Property Group by 28.3% in the 1st quarter. Blue Trust Inc. now owns 1,643 shares of the real estate investment trust’s stock valued at $273,000 after buying an additional 362 shares during the last quarter. Hedge funds and other institutional investors own 93.01% of the company’s stock.

Simon Property Group Stock Performance

Simon Property Group stock opened at $178.23 on Friday. The stock has a market cap of $58.19 billion, a P/E ratio of 27.55, a price-to-earnings-growth ratio of 12.96 and a beta of 1.50. The firm’s fifty day moving average price is $179.20 and its 200-day moving average price is $166.34. Simon Property Group, Inc. has a fifty-two week low of $136.34 and a fifty-two week high of $190.13. The company has a debt-to-equity ratio of 9.05, a quick ratio of 1.23 and a current ratio of 1.23.

Simon Property Group (NYSE:SPG) last released its quarterly earnings data on Monday, August 4th. The real estate investment trust reported $3.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.04 by $0.01. The firm had revenue of $1.50 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Simon Property Group had a net margin of 36.78% and a return on equity of 72.38%. The company’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.90 earnings per share. Simon Property Group has set its FY 2025 guidance at 12.450-12.650 EPS. On average, equities research analysts expect that Simon Property Group, Inc. will post 12.54 earnings per share for the current fiscal year.

Simon Property Group Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Tuesday, September 9th were given a $2.15 dividend. The ex-dividend date was Tuesday, September 9th. This is a boost from Simon Property Group’s previous quarterly dividend of $2.10. This represents a $8.60 annualized dividend and a yield of 4.8%. Simon Property Group’s payout ratio is 132.92%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Morgan Stanley increased their price objective on shares of Simon Property Group from $170.00 to $180.00 and gave the company an “equal weight” rating in a research note on Thursday, September 11th. Stifel Nicolaus downgraded shares of Simon Property Group from a “buy” rating to a “hold” rating and set a $179.00 target price for the company. in a research report on Tuesday, September 2nd. Weiss Ratings reissued a “buy (b)” rating on shares of Simon Property Group in a research report on Tuesday. Barclays increased their target price on shares of Simon Property Group from $170.00 to $180.00 and gave the company an “equal weight” rating in a research report on Monday, October 6th. Finally, Scotiabank increased their target price on shares of Simon Property Group from $163.00 to $173.00 and gave the company a “sector perform” rating in a research report on Thursday, August 28th. Five research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat, Simon Property Group currently has a consensus rating of “Hold” and an average price target of $187.31.

Insider Activity

In other news, Director Glyn Aeppel acquired 208 shares of the firm’s stock in a transaction dated Tuesday, September 30th. The shares were purchased at an average cost of $185.95 per share, for a total transaction of $38,677.60. Following the transaction, the director directly owned 19,265 shares of the company’s stock, valued at approximately $3,582,326.75. This trade represents a 1.09% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gary M. Rodkin bought 219 shares of the business’s stock in a transaction that occurred on Tuesday, September 30th. The shares were bought at an average cost of $185.95 per share, with a total value of $40,723.05. Following the completion of the purchase, the director directly owned 19,229 shares of the company’s stock, valued at $3,575,632.55. This represents a 1.15% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders purchased 2,163 shares of company stock worth $401,605. 8.66% of the stock is currently owned by insiders.

Simon Property Group Company Profile

Simon Property Group, Inc (NYSE:SPG) is a self-administered and self-managed real estate investment trust (REIT). Simon Property Group, L.P., or the Operating Partnership, is our majority-owned partnership subsidiary that owns all of our real estate properties and other assets. In this package, the terms Simon, we, our, or the Company refer to Simon Property Group, Inc, the Operating Partnership, and its subsidiaries.